Questions 19 and 20 relate to the following information: On 1 July 2015, Crazy Ltd leases a machine to Present Ltd for 3 years. Annual rental (to be paid in advance) is $30 000. Present Ltd guarantees, in full, the estimated residual value of $5 000 on return of the machine. The interest rate implicit in the lease is 10%. 19) What is the fair value of the machine according to Crazy Ltd? a) b) c) d) $ 85 823 $ 78 362 $ 86 634 $ 82 066 What is the amount of lease receivable after receiving the first annual rental payment? a) b) $ 55 823 $ 48 362 $ 56 634 S 52 066 d)